$6.2 Million Fine for Supervisory Failures Related to Variable Annuity L-Shares
Eight Firms are fined a total of $6.2 by Financial Industry Regulatory Authority (FINRA) for failuring to supervise sales of variable...
Read MorePIABA Publishes Video to Educate Investors of the Prevalence of Investment Abuse
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Read MorePIABA Publishes Video to Educate Investors of the Prevalence of Investment Abuse
The Public Investors Arbitration Bar Association (PIABA) released a video featuring victims as well as many PIABA members who explain why investors are hesitant to hold their brokers responsible for bad investment recommendations and fraud. PIABA is encouraging securities arbitration attorney’s, including Law Office of Anthony B. Bingham, P.C., to share the video. It is PIABA’s hope that the video will educate investors about the prevalence of investment abuse and prompt more investors to come forward and bring claims. Should you have questions after watching the video, please contact our office at...
Read MoreSEMINAR: Investment Objectives and Risk Tolerance
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Read MoreLawrence Michael LaBine Sanctioned by FINRA
In April 2016, Lawrence Michael LaBine, of Fountain Hills, Arizona, consented to FINRA’s sanctions and was barred from associating with FINRA members in any capacity. According to the FINRA disciplinary action, “Without admitting or denying the allegations, LaBine consented to the sanction and to the entry of findings that he made fraudulent misrepresentations and omissions of material facts to customers in connection with the sale of senior debentures (Series D)…” LaBine was also found to have, “Made unsuitable sales of non-traded real estate investment trust (REIT’s) and other alternative investments, including Series D and his entity’s securities to customers who were elderly and/or inexperienced investors. Read the entire Disciplinary Action (see page 24). Read the entire Order Accepting Offer of...
Read MoreOppenheimer & Co. Sanctioned $2.9 Million by FINRA
FINRA fined Oppenheimer & Co, Inc. $2.25 million and was ordered to pay more than $716,000 in restitution to customers for selling non-traditional ETF’s to customers without reasonable supervision and for recommending non-traditional ETF’s that were not suitable. Read the entire FINRA News Release...
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